Ep67 “Buying a Home with Tenant(s) Living In It”

Welcome back everyone to “The Really REAL Real Estate Podcast!” Every once in a while, a buyer will want to make an offer to purchase a property to live in where the seller is currently using it as a rental with a tenant still actively living in the home. The questions we get asked as realtors are “how does this work?” and “can I still purchase the property to live in even if there is a tenant still living there?” Today, we discuss how to approach making an offer on a property that a buyer wants to purchase for owner occupancy purposes that is currently subject to a lease with a tenant. TALKING POINTS (3-5): • Introduction • What is owner occupancy? • Is it possible to purchase a property for owner occupancy while it’s currently being rented by the seller? o What are the details surrounding the current lease? o The buyer has a decision to make! • Watch out for notification timelines with the current seller/landlord and the current tenant! • Ensure the final walkthrough and return of security deposit is completed well in advance of closing! • Discuss the transaction in the South Side I had regarding this situation. • Final thoughts HASH TAGS: #owneroccupancy #rental #lease #buyingahousewithaleaseattachedtotheproperty LINKS: JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber https://www.facebook.com/jason.wilcox.186 https://twitter.com/jason_wilcox1 https://www.instagram.com/jason.wilcox1/ CONTACT INFORMATION: JASON: Cell Phone: 412-651-4638 Email: [email protected]